Companhia Energetica de Minas Gers CEMIG (CIG) Reaches $1.99 1 Year Low; MMEX RESOURCES CORPORATION (MMEX) Sellers Decreased By 69.55% Their Shorts

November 15, 2017 - By Linda Rogers

The stock of Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) hit a new 52-week low and has $1.83 target or 8.00% below today’s $1.99 share price. The 7 months bearish chart indicates high risk for the $2.92B company. The 1-year low was reported on Nov, 15 by Barchart.com. If the $1.83 price target is reached, the company will be worth $233.60 million less. About 384,440 shares traded. Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) has risen 59.02% since November 15, 2016 and is uptrending. It has outperformed by 42.32% the S&P500.

MMEX RESOURCES CORPORATION (OTCMKTS:MMEX) had a decrease of 69.55% in short interest. MMEX’s SI was 20,400 shares in November as released by FINRA. Its down 69.55% from 67,000 shares previously. About 2.67M shares traded. MMEX Resources Corp (OTCMKTS:MMEX) has 0.00% since November 15, 2016 and is . It has underperformed by 16.70% the S&P500.

MMEX Resources Corporation, formerly MMEX Mining Corporation, is engaged in exploration, extraction, refining and distribution of oil, gas, petroleum products and electric power. The company has market cap of $24.89 million. The Firm focuses on the acquisition, development and financing of oil, gas, refining and electric power projects in Texas, Peru, and other countries in Central and Latin America. It currently has negative earnings. The Company’s subsidiaries include MCC Merger, Inc., Maple Carpenter Creek Holdings, Inc., Maple Carpenter Creek, LLC, Carpenter Creek, LLC, Armadillo Holdings Group Corp. and Armadillo Mining Corp.

Among 2 analysts covering Cia Energetica de Minas Gerais (NYSE:CIG), 0 have Buy rating, 1 Sell and 1 Hold. Therefore 0 are positive. Cia Energetica de Minas Gerais had 2 analyst reports since April 26, 2017 according to SRatingsIntel. The rating was downgraded by Goldman Sachs on Friday, July 14 to “Sell”. The stock of Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) has “Neutral” rating given on Wednesday, April 26 by JP Morgan.

Companhia Energetica de Minas Gerais-CEMIG is a holding firm that is engaged in the generation, transmission and distribution of electricity. The company has market cap of $2.92 billion. The Company’s divisions include Generation, Transmission, Distribution, Telecom, Gas and Other. It has a 13.61 P/E ratio. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

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